THE FUTURE OF AFRICAN BUSINESSES

By James Jornyoun, Contributor.

 Business entities make available training to their employees in order to get them ready to become realistically sound with the company’s goals and objectives as a resource to enhance consumer demands for goods and services. For African businesses to be competitive there is an increasing need to keep up with the market and potential trends of the business environment. This process will give African businesses and entrepreneurs the ability to meet future trend that drive market forces. The business environment worldwide is evolving every day and becoming highly competitive with the rise of technological innovations creating opportunities and diverse customer base. As the business environment and economic opportunities develop around the world, Africans are now finding means of entry to main land China growing economy. With China growing present in Africa, the process is creating mutual exchange of human capital and attraction of more Africans to China. With more Africans finding means of entry to China and gaining the experience of China growing economic, there is a need to drive a business environment that will keep up with market forces.

The question then is what would drive the need for African businesses to keep up with the forces that have an effect on the business environment? The short answer to this question will be customers. Why is truth that many African nations are faced with devastating political and economic problems, there are still opportunities for businesses to create a diverse customer base. To tap into the available opportunities, entrepreneurs in Africa and those who are at the helm of decision making needs to change their concepts of doing business and adapt to a more standardized conducive process. Such as encouraging entrepreneurship, creating a friendly business environment, reducing bureaucracies and building a business model based on trust and honesty. In order to create a diverse customer base, small business owners in Africa and aspiring entrepreneurs need to have a local mindset with a global vision. It means by creating a business model with the primary concept of contributing toward the local economy but with the vision of providing services to people beyond borders. It is very significant to understand the basic cultural values when doing business across national borders. This is why it is essential for African businesses to invest in training and development. Investing in training and development would give competitive advantage to businesses across Africa. According to CNN News report, China has increased its commitment to Africa in recent years, scouring the resource-rich continent in its bid to access natural resources and forge new trade routes. But the Asian powerhouse is also emerging as an attractive business destination for Africans. The report also says China’s booming economy has been luring an increasing number of Africans to its shores in recent years, most of them eager to export goods from the world’s second-largest economy back into their continent. But despite the growing opportunities, many Africans in China still feel the overall relationship is far from a two-way street.

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As Africa becomes the emerging market for attraction, the need for training and development cannot be underestimated for the future of businesses, entrepreneurs and employees in Africa. The concept of local mindset with global vision would put African businesses and entrepreneurs in the position of becoming market leaders in fulfilling customer’s need. This would make African businesses competitive on the world stage and thereby creating awareness and ease of access of goods and services. However, to keep up with the current and future market trend, there is a need to provide workforce with the necessary training and development. Devoting resources toward people development, team building, technology, time management, knowledge and Skills, product design, performance, continuous improvement, and adaptation are the key core values that give organizations the ability to compete and rise above barriers. Implementing such core competencies will put businesses in the position to hire more people, thereby increasing productivity and profit, and reducing the unemployment rate within the African nations. We have companies that have change the world and some have created lasting impression on the way we shop, travel, communicate, and network with one another. For example AT& T, Airbus, Boeing, Microsoft, Nike, Sony, Wal-Mart and the list goes on. These companies got to where they are because of their concepts, and African businesses as well as entrepreneurs need to develop a business model in this 21st   Century that will enable them to compete across all business functions and geographic lines. Business/Africans-China.

 

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